NATIONALUM - Elliott wave, strong breakout soon!

When we combine Elliott Wave Theory with simple price action, it becomes one of the most powerful trading approaches.

New traders often try to trade every small move, chasing quick profits and ending up overtrading. Seasoned traders, however, true gains come from catching the major impulsive waves.

NATIONALUM Daily chart

Elliott Wave acts like the market’s GPS, helping gauge the maturity and direction of a trend. When wave counts align with price action, the outcome can be powerful—even in individual stocks.

Elliott Wave analysis continues to act as a reliable guide to assess trend maturity and direction. In National Aluminium Co ltd, price action remains well aligned with its wave structure. After completing Intermediate Wave (3) in January 2026, the sideways move looks to be forming Triangle pattern in form of wave (4) which appears to have been completed near 347 level and now the up move has begun in the form of wave (5). This phase will be most likely the last phase of buying.

AK Indicator: The AK Indicator, which evaluates trend direction, momentum strength, and reversal risk, shows all three lines are diverging on the upside indicating that the momentum is developing on the buy side. However, this indicator works on closing basis so, a close above prior swing high is necessary for the indicator to turn on buy side.

Conclusion:

• A break above near prior swing high of 412 level will confirm that wave (4) has officially ended and wave (5) has begun also AK indicator will turn on the buy side confirming our bullish biasness.

Key support & Resistance remains around 347 and 432 level respectively

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